MUMBAI (Commodity Online) : Continuing its effort to reach out to every village in the country, National Spot Exchange Ltd (NSEL) on Monday signed a Memorandum of Understanding (MOU) with Government of Orissa.

The MOU is intended for setting-up the electronic trading facilities for agricultural commodities by National Spot Exchange.



Orissa, where more than 40% of the total land is under agri cultivation, needs an institutional support to provide a pan India market linkage to its farmers.

NSEL will create this linkage between Orissa farmers and other physical market players by extending the electronic trading platform. This will empower the farmers and enhance their price realization. This will also provide them the facility for financing against warehouse receipt.

National Spot Exchange has already signed such MoU in past with the Madhya Pradesh, Maharashtra and Rajasthan governments. NSEL is already operational in multiple states such as Maharashtra, Rajasthan, Madhya Pradesh, Gujarat and Bihar.

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